Lockheed Martin Sells More Land In East Orange

Real Estate

Lockheed Martin Corp. recently completed its fourth major land sale in 15 months on the periphery of its Enterprise Information Services Division in east Orange County.

The latest deal involves 22.65 acres to a Jacksonville developer for an upscale apartment complex.

Woodland Lakes Apartments LLC, a subsidiary of Group IV Properties, paid $2.23 million for the land at Lake Underhill and Curry Ford roads and Alafaya Trail. The seller was Orlando Central Park Inc., a subsidiary of Lockheed Martin Corp.

Lockheed Martin has more than 900 acres to sell in that area. The most recent sale was for just less than $98,500 an acre.

This will be Group IV Properties' first Orlando project.

Earlier land sales have been for a Lowe's, a BJ's Wholesale Club, an Eckerd Drugs, a Sonny's Barbecue and an AmSouth Bank.

British Mortgages Abroad, a company serving United Kingdom residents wanting to buy vacation homes in Central Florida, is opening operations here. The company is part of First National Bank, which is owned by Abbey National Bank, the sixth largest bank in England. British vacationers wishing to buy homes can get a mortgage based on pounds sterling. Sales of vacation homes owners use them to vacation and then rent them the rest of the year have been booming in Osceola, Lake and Polk counties. . . .

Larry Furlong of Fidelity National Title Insurance Co. of New York sells property title insurance so he has more than a passing interest in mortgage fraud. Title insurers can help uncover fraud during the investigation preceding issuance of title insurance, Furlong notes. And, the insurers are pretty busy these days. Florida is becoming one of the top fraud states in the country. Part of the reason is the crooks go where the action is, and Florida is one of the top growth states in the country. On a more pleasant note, Fidelity National plans to open a branch office in downtown Mount Dora in Lake County.

CONSTRUCTION. . .

Keene Construction Co., Maitland, is building the 140,000-square-foot Lord & Taylor department store at Florida Mall. The work includes renovation and a 29,000-square-foot expansion of the former Parisian department store. This is the fourth Lord & Taylor store Keene has handled. . . .

J. Raymond Construction Corp. has been hired by the James Doran Co. to build a 44,000-square-foot Publix and 25,000 square feet of retail space on State Road 434 in Winter Springs. The construction is the first phase of Winter Springs Town Center, which is planned for 250,000 square feet of space. . . .

Beers Skanska Inc., Orlando, finished the $6.8 million, 60,000-square-foot bus center for the Osceola County School Board. Architects Design Group was the architect. . . .

Tilt-Con Corp., Altamonte Springs, is doing work on four elementary schools in Broward County The company also is handling concrete slab work for 962,000 square feet of exhibit hall space at the Orange County Convention Center. . . .

American Lifestyle recently won three contracts totaling more than $380,000. The largest was $185,000 for interior renovations to 4,000 square feet of office space on New York Avenue in Winter Park for Employment Technologies Inc. . . .

Turner Corp. recently was ranked the top health care construction manager in the nation by Modern Healthcare magazine. Turner and PSA Constructors are teaming up to build the $9.4 million Lake Whitney Elementary School in Ocoee.

MORE CONSTRUCTION. . .

EDC General Contractors, Heathrow, won the contract to build a $3.6 million, 50,000-square-foot office building near the Mall at Millenia in south Orlando for Apix Corp., an international industrial engineering company. . . .

Lathan Construction Corp., Lake Mary, is building a $6.8 million FedEx terminal at Tampa International Airport. Lathan is wrapping up work on a 44,000-square-foot Winn-Dixie store on State Road 535 in Winter Garden. . . .

Aristocrat Builders has finished $1.4 million in office and warehouse construction for National Commercial Investments off Apopka Boulevard near Hiawassee Road. . . .

Contemporary Construction Services was selected by Ruby Builders to handle interior work on the New Dimension School in Poinciana. . . .

Bowyer-Singleton & Associates is providing design and construction plans for the State Road 408/Florida Turnpike interchange.